Edgeless, an online Ethereum-powered casino announced that their first bankroll staking round starts on December 4th. The process will enter the beta phase, during which the developers will accumulate data, fix bugs and improve the platform until the full release.
What Is Edgeless?
In its essence, Edgeless is a 100% transparent online casino with 0% house edge (hence the name Edgeless). The casino will feature cryptocurrency betting, fast deposits, coin withdrawals, bankroll staking, and so forth.
Thus far, the platform developed the following games: blackjack, dice, baccarat, and crash. Next on the line are sports betting and poker, which developers wish to implement in the foreseeable future.
What Is Edgeless Staking?
Edgeless believes that decentralized casinos need staking. In crypto world, staking is the process of obtaining coins (aka tokens) by utilizing the Proof of Stake (PoS) algorithm.
Investors buy the tokens, which go directly to their wallets. When staking starts, the coins go through the bankroll staking process. When it ends, the participants receive a predetermined % of the bankroll surplus. The best real-life example of this can be seen in fixed deposits.
One deposits a fixed amount of money, stores it, and receives a reward based on the predetermined interest rate. Those that participate in Edgeless staking will not only be rewarded for the early adoption and participation but will also ensure that the Edgeless platform grows and progresses.
How Will This Work?
Users that wish to support the Edgeless platform should follow these steps:
- Goto the Edgeless website, sign up, and deposit Edgeless (EDG)
- Wait for the staking process to start (December 4th)
- When staking begins, the deposited EDG are bankrolled via the blockchain smart contracts
- Once the staking ends, users can collect their deposits and the surplus they’ve earned
The Edgeless developers announced more than one bankroll staking round. Users will have the option to withdraw their EDG after the first round; if they don't withdraw the funds, they'll automatically participate in the next staking round.